F&P Consultation and Updates 2025
Following our Consultation (CP160) earlier this year, the Central Bank has published its Feedback Statement (PDF 413.9KB) and revised Guidance on the Standards of Fitness and Probity.
The Guidance consolidates all of our fitness and probity related material into a single document to ensure a clear, transparent and comprehensive articulation of the overall F&P framework.
Stakeholders provided valuable input and practical suggestions, both as part of the consultation process and at industry events. These were considered as part of this review and resulted in changes to the Guidance.
The changes to the F&P Regime introduced by this consultation will improve the efficiency of the underlying processes and reduce the burden for industry stakeholders.
Guidance on the Standards of Fitness and Probity 2025 | pdf 869 KB
Feedback Statement to CP160 | pdf 414 KB
Fitness and Probity Website
To further support increased transparency and in line with the Bank’s strategic theme of “Open and Engaged”, we have also reviewed and streamlined the content on the Fitness and Probity section of the Central Bank’s website.
The new simplified design is intended to improve the user experience, allowing for quicker and easier access to relevant F&P material.
Industry Webinar
The Central Bank will host an industry webinar to provide an overview of the revised Guidance on the Fitness and Probity Standards on 9 December.
Registration for this event is now open.
The Central Bank of Ireland has launched a consultation on revisions to its Fitness & Probity (F&P) Regime.
This consultation follows recommendations made by Mr Andrea Enria, former Chair of the European Central Bank Supervisory Board, who undertook an independent review of our F&P assessment process in 2024.
This Consultation Paper (CP160) addresses the recommendations for increased clarity and transparency of supervisory expectations in relation to the application of the Central Bank’s Fitness and Probity Standards (Chapter 2), and includes a review of the list of prescribed pre-approval controlled functions (PCFs) (Chapter 3).
The Central Bank welcomes the views of stakeholders on the proposals set out in CP160. Submissions to the consultation can be made via [email protected] until 10 July 2025.
CP160 - Consultation Paper on Amendments to the Fitness and Probity Regime
Draft Guidance on the Standard of Fitness and Probity 2025
The Fitness and Probity Review (PDF 1.03MB) contained a package of 12 recommendations, all of which were accepted by the Central Bank. The recommendations are wide-ranging in relation to the Central Bank’s F&P assessment process for senior appointments to regulated firms.
Coinciding with the publication of the Consultation on Revisions to the Fitness & Probity Regime, the Central Bank has published a report outlining the significant progress made on implementing the recommendations made by Mr Enria.
The Implementation Report details the significant actions taken to date, highlighting key achievements in strengthening fitness & probity gatekeeping processes:
- Establishing a dedicated Fitness and Probity Unit streamlining operations and ensuring a more cohesive assessment framework.
- Creation of a Gatekeeping Decisions Committee within the Central Bank to consider cases of potential refusal – increasing the seniority and importance of decision making.
- To assist firms, we are proposing a consolidation and enhancement of F&P Guidance (the subject of the consultation above) and we have also published a process manual explaining the application process.
Fitness and Probity Review - Report on Implementation of Recommendations.
Our new F&P Gatekeeper Process clarifies each stage of the fitness and probity process, including the engagement that regulated firms and proposed appointees can expect from the Central Bank, in terms of notification of interviews, interview length, time to process applications and availability of feedback.
The document reiterates and emphasises the Central Bank’s expectations of the financial services industry, including its primary role in the fitness and probity process and the proportionate due diligence that should be completed by regulated entities prior to submitting fitness and probity applications to the Central Bank.
Fitness and Probity Gatekeeper Process Manual.